Comtech Telecommunications Corp. (CMTL) Shares Down 1.4%
Comtech Telecommunications Corp. (NASDAQ:CMTL) shares fell 1.4% during mid-day trading on Thursday . The company traded as low as $12.68 and last traded at $12.74, with a volume of 106,316 shares trading hands. The stock had previously closed at $12.92.
A number of brokerages have issued reports on CMTL. Zacks Investment Research downgraded Comtech Telecommunications Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, June 7th. BMO Capital Markets initiated coverage on Comtech Telecommunications Corp. in a research report on Monday, June 20th. They set an “outperform” rating and a $19.00 price target on the stock. Ladenburg Thalmann initiated coverage on Comtech Telecommunications Corp. in a research report on Friday, July 22nd. They set a “buy” rating and a $19.00 price target on the stock. Jefferies Group initiated coverage on Comtech Telecommunications Corp. in a research report on Tuesday, August 2nd. They set a “hold” rating and a $14.00 price target on the stock. Finally, Citigroup Inc. initiated coverage on Comtech Telecommunications Corp. in a research report on Wednesday. They set a “neutral” rating and a $13.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $19.00.
The company’s market cap is $201.81 million. The stock has a 50 day moving average price of $13.21 and a 200 day moving average price of $18.90.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last posted its earnings results on Wednesday, June 8th. The company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($1.66) by $0.77. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The firm earned $124.20 million during the quarter, compared to analysts’ expectations of $131.40 million. Comtech Telecommunications Corp.’s quarterly revenue was up 73.5% on a year-over-year basis. Equities analysts expect that Comtech Telecommunications Corp. will post ($0.81) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Monday, July 18th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, July 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.62%.
Comtech Telecommunications Corp. designs, develops, produces and markets products, systems and services for advanced communications solutions. The Company operates through three segments: telecommunications transmission, RF microwave amplifiers and mobile data communications. Its telecommunications transmission segment provides equipment and systems used for satellite transmission and enable wireless communications.
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